Dr. YV Reddy, Know Thy FUNDAMENTALS of Banking
June10, 2018 (C) Ravinder Singh progressindia2015@gmail.com
Two lectures of Dr. YV Reddy I attended were basically about GDP growth and Banking Indexes which didn’t impress me – In 1990 India contributed to 2% of World GDP now 3% and in this 28 years population of India increased by 64% from 820m approx. to 1350m today. INDIA’S CONTRIBUTITION TO WORLD GDP IS NOT GROWING IN PER CAPITA TERM.
YV Reddy served as Dy Governor and Governor from 1996-2008 – 12 years [including short assignment as Executive Director of IMF]. He is retired IAS of 1964 batch.
MEGA Scams & 90% NPAs occurred in Mumbai next to RBI Head Quarter.
ESSAR STEEL secured bank loans in 1998 but diverted the money for ESSAR-HUTCH telecom project – delayed Steel Plant by 6 years and also claimed Rs.9000 Cr approx. as incentives which was turned down later.
RIL similarly secured LOANS of Rs.50,000 Cr for KG Basin but diverted money to Reliance Telecom & Refinery delayed Contract for KG Basin Production by 4 years.
TOI Rs.750 Cr Scam ‘Company had evinced interest in starting various processing plants for sugar, soft drinks, fruit juice, instant food mix, energy food and spice powder.’
In above a Trader operating from Mumbai secured Bank Loans of Rs.750 Cr for FOOD PROCESSING Projects in Kutchh District from 2012. Not a brick was laid at 61 land parcels. Everything was Fine for Banks and Government – an RTI activist exposed it not the RBI & Banks Vigilance Departments.
What is Common in these three plus Nirav Modi & Chowksi cases is that Mumbai based Bank HQs Released ‘FULL LOAN AMOUNTS WITHOUT ANY PHYSICAL VERIFICATION FOR 4-7 YEARS.’
Basic FUNDAMENTAL – Banks Didn’t LINK LOANS to JOB CREATION, TAX COLLECTION, INCOME TAX, DUTIES ON PLANT & MACHINERY etc.
BANKS REFINANCED & RESCHEDULED LOANS WITHOUT PHYISICAL VERIFICATION.
I asked Deputy Governor RBI three thing in 2011 –
First that to get a Loan of Rs.10 Cr Banks in India need Mortgage of Homes worth 20 Cr whereas in USA a person with Rs.1 Cr cash would get Rs.10 Cr Loan for a project.
Second Bank Managers are not Qualified to Understand the finances required by Companies and Industries – ‘A Qualified Engineer could accurately assess the Bank Loans required by a Client in hours’.
Third A Bank Branch may advance Loans to Companies in a Radius of 200 km to 1500 km – there is no monitoring of the Companies Operations at all.
Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, ND -110016, India. Ph: 091- 8826415770, 9871056471, 9650421857
Ravinder Singh* is a WIPO awarded inventor specializing in Power, Transportation,
Smart Cities, Water, Energy Saving, Agriculture, Manufacturing, Technologies and Projects
Sensor act as Velcro to detect cancer cells
Chinese Academy of Sciences and Peking University Third Hospital has developed a new type of sensor that acts like Velcro for prostate cancer cells, sticking them to a modified frosted glass slide, like those used in science classes, so that they can be identified from blood samples. According to the researchers, the low-cost method could help doctors better diagnose and monitor the disease.
In men with prostate cancer, some tumor cells exit the prostate gland and circulate in the blood. Detecting these cells could enable diagnosis at an earlier stage or help doctors assess whether treatment is effective. However, because circulating tumor cells are present in very small numbers, finding them can be a challenge.
When the researchers tested blood samples from prostate cancer patients, the device detected as few as 10 tumor cells in 1 milliliter of blood.
Biospectrum
No comments:
Post a Comment